Freestanding Medical Office
For Sale
$1,750,000
1565 N Park Drive #104, Weston, FL 33326
Freestanding office building with five individually suited spaces, currently leased with office and light medical tenants.
Property Size5,486 SF
Price / SF$318.99
Days on Market396
Property Features for 1565 N Park Drive #104
General Information
Standard status
Active
Size
5,486 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Highway Access
Yes
Office Units
5
Building Details
Year Built
2000
Tenancy
Multi
Listing Agency:
BOX REAL ESTATE LLC
(954) 857-1884
Listed By:
JASON CHAMELY · License #F10500162
Source:
Corcoran
Added: Jul 25, 2025
Changed: Aug 23
Last Checked: Aug 23 at 4:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BOX REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This freestanding office building totals 5,486 square feet and is part of the Intercontinental Professional Center in Weston. Building 1565 is divided into five individual suites that share a common entry and common bathroom facilities, creating an efficient layout for both professional and light medical use. Suite sizes range from 700 to 1,225 square feet, supporting a mix of tenant requirements within a single controlled building footprint.
The property sits within a campus setting that includes a courtyard area with fountains, along with ample parking and lush landscaping. The campus is approximately 1.3 miles from I-75 and about 1.5 miles from the Cleveland Clinic campus, placing the building within a convenient drive of major destinations and local retail and dining.
For tenants or buyers seeking an operating property, this building is currently 100% occupied with mixed office and light medical uses. The shared entry and bathroom configuration may simplify occupancy for end users looking for dedicated suite space within a professional campus environment that already supports multiple businesses.
The property sits within a campus setting that includes a courtyard area with fountains, along with ample parking and lush landscaping. The campus is approximately 1.3 miles from I-75 and about 1.5 miles from the Cleveland Clinic campus, placing the building within a convenient drive of major destinations and local retail and dining.
For tenants or buyers seeking an operating property, this building is currently 100% occupied with mixed office and light medical uses. The shared entry and bathroom configuration may simplify occupancy for end users looking for dedicated suite space within a professional campus environment that already supports multiple businesses.
Key Highlights
- 5,486 SF freestanding office building in Intercontinental Professional Center (Weston)
- 1565 divided into 5 individual suites with a shared common entry and bathrooms
- Suites range from 700 SF to 1,225 SF, currently 100% occupied with office and light medical tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$145,406
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,908,120
$2.9M
Cap Rate 7%
$2,077,229
$2.1M
Cap Rate 9%
$1,615,622
$1.6M
Market Conditions
NOI Build-Up for 5,486 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$250.2K $45.60/SF
− Vacancy
−$56.3K −$10.26/SF
EGI
$193.9K $35.34/SF
− OpEx
−$48.5K −$8.84/SF
NOI
$145.4K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,908,120
Cap Rate 7%
$2,077,229
Cap Rate 9%
$1,615,622
Alternative Uses
Best Use
Office B
$2.08M
$1.82M – $2.42M
NOI $145,406 @ 7.0% cap · market cap 8.31%
Second Best
Healthcare Medical
$1.03M
$903.6K – $1.20M
NOI $72,284 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$2.78M
$2.44M – $3.25M
NOI $194,830 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 33326, FL
33,978
Population
12,679
Households
2.7
Avg Household Size
41
Median Age
58%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
4,719
Density / Sq Mi
$113,935
Median Household Income
$53,634
Median Earnings
$2,381
Median Rent
$529,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Freestanding office building with five individually suited spaces, currently leased with office and light medical tenants.
Where is this office units located?
The property is located at 1565 N Park Drive #104 Weston, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 5,486 SF freestanding office building in Intercontinental Professional Center (Weston); 1565 divided into 5 individual suites with a shared common entry and bathrooms; Suites range from 700 SF to 1,225 SF, currently 100% occupied with office and light medical tenants
